Chart of the Day
Posted at 11:30 a.m. on Nov. 23, 2012
– Chart showing the federal gas tax, which is used to support highway and transit construction, in its second longest span without a change, via the Wall Street Journal.
“The federal gas tax was last raised in 1993 and 1990, each time as part of a deficit-reduction plan. After failing for years to overcome public opposition, supporters of another increase see the current talks as a once-in-a-generation chance to raise the tax… The U.S. government spends roughly $52 billion a year on highway and transit projects, but the gasoline tax is generating only about $37 billion annually.”